Ripple Secures Approval to Provide Crypto Services in the U.K.

Source: Coinspaidmedia Original Title: Ripple Secures Approval to Provide Crypto Services in the U.K. Original Link: Ripple has received approval from the U.K. financial regulator, allowing the company to provide certain crypto-related services in the country in line with local compliance requirements.

Ripple Markets UK Ltd, the company’s U.K.-based subsidiary, has been added to the register of the Financial Conduct Authority (FCA) under the anti-money laundering and counter-terrorist financing regime. The registration confirms that the entity meets the U.K.'s AML and CTF standards applicable to cryptoasset businesses.

Inclusion in the FCA register allows Ripple to carry out specific cryptoasset-related activities in the U.K. At the same time, the approval does not constitute a full financial services license. The granted status does not permit Ripple to offer a broad range of regulated financial services and is limited to confirming compliance with mandatory regulatory and compliance requirements for operating with cryptoassets in the U.K.

Ripple views the FCA approval as an important step in expanding its presence in jurisdictions with established crypto regulation. The company already holds regulatory approvals in Singapore, the United States, South Africa, Bahrain, Dubai and several other markets, and continues to develop strategic partnerships across the European Union.